Matrixport Reaffirms $45,000 Bitcoin Price Prediction for End of 2023
Matrixport, the cryptocurrency trading firm co-founded by Bitmain’s Wu Jihan, is standing firm on its Bitcoin (BTC) price prediction for the end of 2023, reiterating that it believes Bitcoin will hit the $45,000 mark.
In a recent blog post titled “Bitcoin Targets $45,000 — FOMO Is Hitting the Market,” Matrixport emphasized its track record of accurate market projections and reaffirmed its earlier forecast.
🚀 Bitcoin Update: FOMO Returns! 🚀
The #Bitcoin futures funding rate is sky-high, signaling a FOMO-driven market. Bitcoin dominance at 52.1%, with volumes soaring at $29bn traded in 24 hours.
Our 2023 target of $45,000 is on track, thanks to our proven trading models.… pic.twitter.com/tiTqRMQl2b
— Matrixport (@realMatrixport) October 24, 2023
The firm referred to its research from September 2023, which foresaw a positive October for Bitcoin, driven by anticipation surrounding the potential launch of a spot Bitcoin exchange-traded fund (ETF).
As of now, with Bitcoin briefly surpassing $35,000 on October 24 and currently trading at around $34,692, Matrixport remains optimistic about the $45,000 target, citing the breakout over the $31,500 price level reached in July.
Galaxy Digital Envisions $14.4 Billion Inflows for Bitcoin ETFs in the First Year
In another development, crypto company Galaxy Digital has released a research report stating that the introduction of spot Bitcoin exchange-traded funds (ETFs) could potentially attract a substantial $14.4 billion in inflows within the first year.
Galaxy Digital suggests that ETFs could offer a superior investment vehicle compared to existing options such as trusts and futures, which currently account for over $21 billion in total value. In the second year, inflows may rise to $27 billion, and in the third, they could reach $39 billion.
Galaxy Digital highlights the immense potential of the U.S. wealth management industry, which holds $48.3 trillion in assets, as a significant market for Bitcoin ETFs.
The demand for such products is evident, as rumors and reports about ETFs have historically had a substantial impact on Bitcoin’s price. The introduction of spot ETFs could result in a 74% increase in Bitcoin prices within the first year, due to the liquidity and price effects of substantial investments.
>>> Bitcoin ETF Roils the Market, Sentiment at All-Time High
Bitfinex Reveals Debut of Inaugural Tether-Denominated Tokenized Bond
Lastly, Bitfinex Securities, a platform specializing in real-world tokenized securities, has announced its plans to list its first tokenized bond in November. This bond, known as ALT2611, is a 36-month offering with a 10% coupon rate, denominated in Tether (USDT), and is issued by Mikro Kapital, a global leader in microfinance.
The countdown for a new tokenised bond has begun. ALT2611 is a 36-month, 10% coupon bond, denominated in $USDt and issued by one of the global leaders in micro-financing.
Click below to learn more:https://t.co/NhVzPxPN9j
— Bitfinex Securities (@BFXSecurities) October 24, 2023
ALT2611 will carry debt and equity risks associated with microfinance organizations, financial institutions, leasing firms, and banks in multiple countries along the Silk Road trade routes, including Italy, Romania, Moldova, and others.
Bitfinex Securities aims to facilitate capital raising through deep liquid markets and stock/fund markets. The tokenized bond will be available for purchase at an initial price of 100 USDT, with a minimum investment requirement of 125,000 USDT and a three-year maturity period.
